Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
+1 212 318 2000
Europe, Middle East, & Africa
+44 20 7330 7500
+65 6212 1000
Many people only want to communicate "good things" to business partners, be they investors, bankers, lawyers, or even customers. As difficult as it may be sometimes, communicating both "the good" and "the bad" is critical.
Communicating "the bad" to trusted partners allows them to assist you and offer suggestions on how to turn the situation around so that it ultimately becomes "the good." Bring forth the news and come prepared to discuss your plans for solving the problem. Remember to stay open-minded to their suggestions as well, as they are likely people who have helped drive success for your business.
Your partners will respect you more for initiating a conversation about bad news rather than forcing them to call you out on it, or worse, having the situation get to a point past saving. After all, no company in the world only has good news all the time—it’s just a matter of how you handle it.
Want to improve the way you run your business? Entrepreneurs, academics, and consultants from diverse industries offer practical advice on a variety of topics each business day.
To submit a tip for consideration, first check our archive of previous tips to make sure you're not repeating a tip someone has already contributed. Then send the tip to Small Business channel contributor Michelle Dammon Loyalka. Because of the volume of material she receives, she may not respond to each individual.